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Russia’s Norilsk Nickel to sell 2 mines in Africa within months

June 06, 2014, 17:22 UTC+3 MOSCOW
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MOSCOW, June 06. /ITAR-TASS/. Russian metal giant Norilsk Nickel plans to strike a deal to sell the Nkomati mine in South Africa and the Tati Nickel project in Botswana within months, Deputy CEO Pavel Fyodorov said at a news conference on Friday.

It would be a package deal with the possibility to “agree with the investor consortium on selling the assets together", Fyodorov said.

“At the moment the company has already sold non-core assets worth $150 million, including assets in Australia, a pension fund and minority stakes in grid companies,” Fyodorov added.

In May, Norilsk Nickel signed a final agreement to sell two production and processing assets in Western Australia, Avalon and Cawse, to a local company Wingstar Investments. Norilsk Nickel plans to acquire $1 billion from selling all foreign non-core assets.

As of December 31, 2013 the company’s net debt stood at $4.584 billion.

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